Monday, October 26, 2020

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/18/2020-10/25/2020

 

Long Beach Island Real Estate Weekly Sales Update LBI Real Estate Weekly Sales 10/18/2020-10/25/2020



Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 10/18/2020-10/25/2020: There were 130 changes to the MLS this week which is about average these days. To help understand the dynamics of the LBI real estate market for buyerssellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 33 new listings entered the market with an average price of $1,740,115
  • 37 listings went under contact with an average listing price of about $1,359,035
  • 29 properties sold on Long Beach Island with an average price of $1,324,221
  • 12 listings were either withdrawn of expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market


More LBI Real Estate Information:

How to Determine Value in the LBI Real Estate Market

How to Sell a Home in the LBI Real Estate Market in a Divorce

Will We See Higher Taxes on Long Beach Island



Sunday, October 18, 2020

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020

 

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020





Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 10/11/2020-10/18/2020: The LBI real estate market resumed some of its activity with 134 changes this week. Many of these changes were in the form of new listings, which the market desperately needs. To help understand the dynamics of the LBI real estate market for buyerssellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:

  • 35 new listings entered the market with an average price of $1,370,303
  • 36 listings went under contract with an average listing price of about $1,483,108
  • 36 properties sold on Long Beach Island with an average price of $1,303,206
  • 14 listings were either withdrawn of expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com


Click here to search all homes for sale in the Long Beach Island NJ real estate market




Saturday, October 17, 2020

Cost vs. Price in the Long Beach Island Real Estate Sales Market

 

Cost vs. Price in the Long Beach Island Real Estate Sales Market





Long Beach Island Real Estate

At present, we see record-low inventory levels and record-high levels of demand. This has created a seller’s market. Due to COVID or coronavirus, the current economic climate has also caused interest rates to fall to levels never imagined. When looking to purchase a home, buyers have to understand Cost vs. Price in the Long Beach Island Real Estate Sales Market. While prices have risen, the cost of ownership has fallen. While this is good news, there are a few additional layers that need to be understood, including:

  • Additional ownership costs like flood insurance
  • What determines value on LBI for long term appreciation
  • How will you handle the sale of a home in the future?

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market



Thursday, October 15, 2020

Long Beach Island Real Estate Months of Inventory

 

Long Beach Island Real Estate Months of Inventory




Long Beach Island Real Estate Months of Inventory

Thanks to coronavirus and the current economic policy, the LBI real estate market is on fire. Long Beach Island Real Estate Months of Inventory needs to be understood by both buyers and sellers in the current market as we are seeing unprecedented levels of inventory. At present, we are seeing about 40 or so homes come on the market each week and between 40 and 50 homes go under contract. With this kind of activity, fewer and fewer homes are available for buyers. This is reflected in the difficulty that buyers are having in finding a home and, in many cases, leading to buyers overpaying for a home. Understandings what creates value in the LBI real estate market as well as the current trends can help to avert a costly mistake. A study of the months of inventory is simply an estimate of how long it would take to sell all the homes available in the LBI real estate market if no new inventory came along.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com




Tuesday, October 13, 2020

Is it Better to Rent or Buy in the LBI Real Estate Market

 

Is it Better to Rent or Buy in the LBI Real Estate Market






Click here to search all homes for sale in the Long Beach Island NJ real estate market

Long Beach Island Real Estate

Long Beach Island is a seasonal summer resort destination enjoyed by thousands of visitors every summer. It is common to see the same family visit LBI year after year and by generation after generation. It often begs the question of whether it is better to rent or buy in the LBI real estate market with such a loyal base. There is no simple answer to this question, and it depends on the individual. Of course, price is a significant factor as not everyone can afford to buy a second home on Long Beach Island. That said, even those who have the means to do so often will opt to rent. This article will explore the pros and cons of renting and buying on Long Beach Island.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market



Sunday, October 11, 2020

LBI Real Estate Weekly Sales Update 10/4/2020-10/11/2020

 LBI Real Estate Weekly Sales Update 10/4/2020-10/11/2020





Long Beach Island Real Estate

LBI Real Estate Weekly Sales Update 10/4/2020-10/11/2020: There were a total of 115 changes to the Long Beach Island real estate market this week. While activity was spread evenly, there were more price reductions this week than we have seen recently. To help understand the dynamics of the LBI real estate market for buyers, sellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold, and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:


22 new listings entered the market with an average price of $1,701,954

45 listings went under contract with an average listing price of about $1,205,278

30 properties sold on Long Beach Island with an average price of $1,173,670

6 listings were either withdrawn or expired in the LBI real estate market

By : Nathan Colmer | The Van Dyk Group


Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com


www.BuyLBI.com


Learn More

Tuesday, August 25, 2020

119 E 26th, Long Beach Twp, NJ 2





Check out this amazing oceanside home for sale on Long Beach Island!



https://ncolmer.vandykrealestate.com/property/382-NJOC401944-119-E-26th-Long-Beach-Township-NJ-08008



119 E 26th Street Spray Beach



Welcome to 119 E 26th Street on Long Beach Island. This stunning, custom-built home sits just five houses off the beach and is near all the major attractions on LBI. The quality and attention to detail in this home is apparent when you set foot on the property. From the cosmetic touches like the gourmet kitchen with quartz counter tops and the rough-sawn ceiling beams sourced in Vermont to the structural upgrades like spray foam insulated exterior walls and an owned solar system, this house will not disappoint. The non-reversed living design takes advantage of the over sized yard that allows for a massive 13x30 foot pool with swim ledge and custom Pergola. Additional features include an elevator, multiple levels of decking with ocean and bay views, white oak flooring throughout, Anderson "A" series windows, craftsman trim, exterior metal and cedar accents, architectural shingles, and a custom landscaping package. The home has an impressive rental history of around $10,000/week in season.



Contact Nathan Colmer, real estate agent at the Van Dyk Group for more information.



Cell: 609-290-4293

Office: 609-492-1511

ncolmer@vandykgroup.com